LOANS – making your business fit for growth
CashBack Capital offers affordable and flexible loans to SMEs, microenterprises and workers struggling with not only access to credit but also the right loan structure that works best for them. It is one of our objectives to improve the financial literacy of borrowing clients while also building up the capacity of these businesses to enable them grow along their value chains.
Loans will be made available to viable microenterprises, groups, SMEs and to individuals/workers with recognizable and regular sources of current and future income.
SME and Microenterprise Loans (Mpuntuo)
These loans are availed to businesses that are viable and in need of working capital for expansion, duty financing, pre- and post-shipment financing as well as receivables discounting. Importers, exporters, vendors, traders and artisans will be given structured loans that match their operating cycle profile.
- Clients should have an existing savings or investment account with CashBack Capital
- At least 2 months of savings is required to qualify for a loan
- Loan amount will be up to 200% of deposits held with us
- Loans will be availed for tenors of up to 12 months
- Loan repayments are monthly
- Client will need to provide collateral (determined by their type of business)
- 24-hour approval for successful loan applications
Group Lending (Ejuma Boafo)
The basic features of our Group Loans are:
- Providing loans to identifiable micro-entrepreneurs in groups (between 5 to 10 persons)
- Each group shall be trained for 4 weeks before any disbursements are made
- Group members shall open individual savings accounts or a Group savings account
- The aggregate amount contributed by members determines the loan amount availed
- Loans shall be repaid over a period of up to 6 months.
These are financing schemes with public-sector workers, private-sector employees and self-employed individuals to enable them meet pressing contingencies such as paying rent, medical bills, bereavement expenses or procuring home appliances and equipment through hire-purchase arrangements with supermarkets. The personal loan scheme covers pay-day loans, bereavement loans, educational loans, auto loans, home improvement loans among others.
The basic features of the personal loan arrangements are:
- Workers must be confirmed in their employment
- A guarantor is required
- Proof of income to be provided – for e.g. salary slips
- Upon receipt of requisite documentation, CashBack Capital will avail loans within 24 hours
- Loan tenors of up to 6 months
- Very competitive pricing